Jump Financial LLC Acquires 396,506 Shares of Archer Aviation Inc. $ACHR

Key Points

• Jump Financial LLC significantly increased its stake in Archer Aviation by 2,203.5% in Q1, acquiring an additional 396,506 shares, bringing its total ownership to 414,500 shares valued at approximately $2,947,000.
• Several institutional investors have also increased their holdings in Archer Aviation, with 59.34% of the stock now owned by institutional investors and hedge funds.
• Archer Aviation's recent earnings report showed an EPS of ($0.36), missing the consensus estimate of ($0.24), with analysts predicting a negative EPS of -1.32 for the current fiscal year.

Jump Financial LLC raised its position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 2,203.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 414,500 shares of the company's stock after buying an additional 396,506 shares during the period. Jump Financial LLC owned about 0.08% of Archer Aviation worth $2,947,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. purchased a new stake in shares of Archer Aviation in the 4th quarter worth about $27,000. Allworth Financial LP lifted its position in shares of Archer Aviation by 87.0% in the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock worth $25,000 after purchasing an additional 1,664 shares during the period. Tidemark LLC lifted its position in shares of Archer Aviation by 100.0% in the 1st quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after purchasing an additional 2,000 shares during the period. Comerica Bank lifted its position in shares of Archer Aviation by 113.2% in the 4th quarter. Comerica Bank now owns 4,076 shares of the company's stock worth $40,000 after purchasing an additional 2,164 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Archer Aviation during the 1st quarter valued at about $31,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Archer Aviation news, CTO Thomas Paul Muniz sold 86,133 shares of Archer Aviation stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $846,687.39. Following the transaction, the chief technology officer owned 1,327,469 shares of the company's stock, valued at $13,049,020.27. The trade was a 6.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Eric Lentell sold 95,896 shares of Archer Aviation stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $10.60, for a total transaction of $1,016,497.60. The disclosure for this sale can be found here. Insiders sold 283,964 shares of company stock worth $2,865,206 over the last ninety days. Company insiders own 7.65% of the company's stock.

Archer Aviation Stock Performance

NYSE ACHR traded down $0.24 during trading hours on Friday, hitting $8.97. 21,348,891 shares of the company's stock traded hands, compared to its average volume of 28,320,262. The business's fifty day moving average price is $10.32 and its two-hundred day moving average price is $9.39. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5.78 billion, a P/E ratio of -6.64 and a beta of 3.08. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $13.92.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.12). Equities research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Wall Street Analyst Weigh In

ACHR has been the subject of a number of recent research reports. Needham & Company LLC reissued a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price target on shares of Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. UBS Group restated a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Archer Aviation has an average rating of "Moderate Buy" and an average price target of $13.43.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.